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Amico Corp. uses the periodic method. The company has the following information for 2021: Sales $100,000 Beginning inventory $12,000 Ending inventory $16,500 Purchases $70,000 Freight-in
Amico Corp. uses the periodic method. The company has the following information for 2021: Sales $100,000 Beginning inventory $12,000 Ending inventory $16,500 Purchases $70,000 Freight-in $2,200 Gross profit $35,000 The only other inventory related account is Purchases discounts. What value would Amico show for Purchases discounts?
A. 3,500
B. 3,600
C. 2,700
D. 4,100
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